Microinsurance is one of the fastest-growing new markets among people at the bottom of the financial pyramid. These low-income customers were previously precluded by traditional insurance. Will insurers really benefit from serving a larger amount of customers? Our results show that competition...

Several new methods have been proposed for supply chain finance (SCF) with bank credits, but none of them mentions how to solve the borrowers' moral hazard problems in SCF. This paper examines the moral hazard problem in supply chain financing with procurement contract (or purchase order). We...

In many business situations, one party makes an offer (e.g., broker offers a commission to client) that can either be accepted or rejected by the other party. If it is rejected, both gain nothing. Common sense, business experience and theory suggest that the proposer would partition the sum so...